This assignment requires you to use Excel only in question 4. Questions 2 3 and 4 require

that you explain how you determined the answer to the question. Submitting answers without

an explanation for these three questions is not sufficient.

Make sure to use the GB513 Unit 3 Assignment Template (found in your online course) to

submit your answers.

Question 1

A group of investors wants to develop a chain of fast-food restaurants. In determining potential costs

for each facility they must consider among other expenses the average monthly electric bill. They

decide to sample some fast-food restaurants currently operating to estimate the monthly cost of

electricity. They want to be 90% con?dent of their results and want the error of the interval estimate to

be no more than $100. They estimate that such bills range from $600 to $2500. How large a sample

should they take?